Search Site

Trends banner

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

SABIC net loss $322 million

Revenues increased by 5.8 percent.
  • Losses were driven by a SAR 1.05 billion drop in gross profit on higher feedstock prices.
  • On a sequential basis, net loss shrank from SAR 1.89 billion in Q4 2024.

Riyadh, Saudi Arabia — Saudi Basic Industries Corp. (SABIC) has posted a net loss of $322 million in the first quarter of 2025 versus a net profit of SAR 250 million in Q1 2024.

Losses were driven by a SAR 1.05 billion drop in gross profit on higher feedstock prices. In addition, other operating expenses increased mainly due to a non-recurring cost of SAR 1.07 billion related to a strategic restructuring initiative, Argaam reported.

On the positive note, revenue increased by 6 percent year-on-year (YoY) to SAR 34.59 billion, primarily on higher sales volumes, but partially offset by lower average selling prices.

On a sequential basis, net loss shrank from SAR 1.89 billion in Q4 2024.$322

Total shareholders’ equity, after minority interest, stood at SAR 156.11 billion as of March 31, 2025, compared to SAR 166.48 billion a year earlier.